Taxpayers have to re-register DSC for Income Tax Return Filing

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Taxpayers have to re-register DSC for Income Tax Return Filing is a piece of important news for everyone. Anyone who wants to file an income tax return must get DSC as soon as possible. The tax department has launched a new platform ( e-filing portal) to facilitate taxpayers. The updated portal is now more customer-friendly. Moreover, there is a reduction in the turnaround time for the different tax functionalities. Therefore, let us look at the notification that Taxpayers have to re-register DSC for Income Tax Return Filing.

Taxpayers have to re-register DSC for Income Tax Return Filing.

On 7 June 2021, the Department of Revenue tax will be launching its new e-filing portal. Thus it is currently re-registering the DSC in a new e-filing site.

Digital signature Certificate re-registration will start from 7 June 2021. The re-registration of DSC is happening for security and technical reasons. Furthermore, The prior DSC registration of the previous website was not updating on the new website.

Let’s now look at understanding DSC and Income tax return filing.

What is DSC?

A Digital Signature Certificate is a secure digital key that authenticates electronic documents. Digital Signatures make use of solid encryptions to create the signatures.

This signature cannot be falsified and states that a designated person has written the document to which the signature is affixed or has agreed otherwise.

Furthermore, A digital signature certificate (DSC) contains important information about the user’s name, pin code, country, email address, date of issuance of certificate and name of the certifying authority.

Know about the Benefits of re-registering DSC (Digital Signature Certificate) for Income Tax Return

There are several benefits of DSC Registration. Some of the most significant ones are as follows.

  • The digital signature certificate provides the highest degree of security for online users. It assures complete privacy for information transferred via the certificate of digital signature (DSC).
  • DSC helps in saving time by digitally signing PDF files.
  • By utilizing DSC, users may e-verify and reset their password profile. Furthermore, the gateway for e-filing offers an option of DSC protecting the account.
  • Public authorities generally demand DSCs to authenticate and examine the business transaction.

What is ITR or Income Tax Return Filing?

Income Tax Return (ITR) is a form. It needs to be filed with the Indian Department of Income Tax. It covers information on the income of the individual and the taxes payable throughout the year. The information submitted to the ITR should have a specific fiscal year, i.e. from 1 April to 31 March next year.

Know about the benefits of ITR Filing to Taxpayers by Re-Registering DSC

ITR Filing is beneficial for every taxpayer. It is highly recommended to file ITR for every individual or company to avoid penalties. Some of the benefits of ITR filing are as follows.

  • Filing Income Tax Returns helps in claiming a tax refund. Furthermore, it helps in getting easy loan approval.
  • In most Embassies and Consulates, an applicant must submit a copy of your tax returns at the time of visa application for the last several years. Therefore, filing ITR helps in getting easy visa approval too.
  • There can be hefty penalties in case of avoiding ITR filing. Therefore, filing Income Tax Return aids in avoiding penalties. In addition, it helps in carrying forward losses.

Income Tax collections exceed Corporate Tax after 21 years

Moreover, If you want any other guidance concerning ITR Filing, please feel free to talk to our business advisors at 8881-069-069.

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